Intel Adds Stacy Smith to Board of Directors: A Boost to Leadership

Intel Corporation has made an exciting addition to its board of directors with the appointment of Stacy Smith, executive chairman of Kioxia Corporation and chair of Autodesk Inc. Smith, who brings a wealth of experience in the semiconductor industry, will serve as an independent director and join the board’s Audit & Finance Committee.

Frank D. Yeary, chairman of the Intel board, expressed his confidence in Smith’s appointment, stating that his deep understanding of the semiconductor industry, combined with Intel’s history and strategy, will be a significant asset as the company navigates its transformation journey. Yeary also highlighted Smith’s expertise in finance and capital allocation strategies within the capital-intensive semiconductor industry, which will be invaluable as Intel continues to strengthen its global semiconductor supply chain.

Smith, who spent nearly 30 years at Intel before retiring in 2018, held various leadership roles during his tenure. Notably, he served as the group president of manufacturing, operations, and sales, overseeing Intel’s global Technology and Manufacturing Group and worldwide sales organization. He also held finance leadership positions, including chief financial officer, and served as chief information officer and general manager of Intel Europe, Middle East, and Africa (EMEA), responsible for sales and marketing in the region.

Expressing his enthusiasm for joining Intel’s board, Smith acknowledged the pivotal moment for the company as it executes its IDM 2.0 strategy to solidify its position in core markets, expand into emerging compute markets, and establish itself as one of the world’s leading foundries. He recognized Intel’s ongoing transformation in the semiconductor industry and expressed his honor to contribute to the company’s evolution as it strives to regain its iconic status in the global technology ecosystem.

In addition to Smith’s extensive experience in the semiconductor industry, operations and manufacturing, and sales, marketing, and branding, he brings valuable public company board experience to Intel. Currently serving as executive chairman of Kioxia and chairman of Autodesk, Smith has also served on the board of Wolfspeed since 2023. Previously, he held board positions at Virgin America and Gevo Inc.

Smith holds an MBA in finance from the University of Texas, further solidifying his expertise in the financial aspects of the industry. With his impressive background and Intel’s strategic vision, the addition of Stacy Smith to the board of directors positions the company for continued success in the dynamic semiconductor landscape.

Background Information

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About Intel:

Intel Corporation, a global technology leader, is for its semiconductor innovations that power computing and communication devices worldwide. As a pioneer in microprocessor technology, Intel has left an indelible mark on the evolution of computing with its processors that drive everything from PCs to data centers and beyond. With a history of advancements, Intel's relentless pursuit of innovation continues to shape the digital landscape, offering solutions that empower businesses and individuals to achieve new levels of productivity and connectivity.

  

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Technology Explained

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IDM 2.0: Intel IDM 2.0 is Intel's integrated device manufacturing (IDM) strategy introduced at 2021. It is a major evolution of the company's traditional IDM model, which has been in place since its founding in 1968. Under the IDM 2.0 strategy, Intel will continue to design and manufacture its own chips, but it will also become a major provider of foundry services to other companies. This will allow Intel to tap into the growing demand for semiconductor manufacturing capacity, while also generating new revenue streams.

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